Taxmann's LLP Ready Reckoner

Page 1


ACCOUNTS, AUDIT AND ANNUAL RETURNS OF

ROUTINE MANAGEMENT OF LLP

ADMINISTRATIVE CONTROL OVER LLP

COMPROMISE AND ARRANGEMENT

WINDING UP AND STRIKE OFF DEFUNCT LLP

INVESTIGATION OF AFFAIRS OF

OFFENCES, PUNISHMENTS AND PENALTIES

INCORPORATION OF LLP

2.1 INTRODUCTION

2.1-1 Incorporation document

2.1-2 Contents of incorporation document

2.1-3 Punishment for false statement while incorporating LLP

2.1-4 Procedure for Incorporation of LLP at a glance

2.2 NAME OF LLP

2.2-1 Reservation of name of LLP

Para 2.2

Procedure prescribed for reservation of name

Name reserved for three months

2.2-2 Criteria for approval of name -

Approval of concerned regulatory authority proviso xvi

2.2-2A Reservation of name

However, if NOC is received from LLP or company, name can be reserved.

xi the proposed name is identical with or too nearly resembles the name of any other limited liability partnership or a company [amended w.e.f. 1-4-2022]

2.2-3 Criteria for approval of name of a LLP

Para 2.2

Name Should not be similar to other names -

Name Should not be undesirable

Offensive names

No violation of Emblems Act -

Misleading name not permissible-

Abbreviated names only for established company

Names starting with small letters

Stand alone genetic name not permitted

Words like bank, trust, investment etc.

Names including word ‘insurance’

Name of mutual fund

Change of name reflecting software business

2.2-4 Obtaining consent of other companies in group for using group name in name of a LLP

Kilburn Electricals Ltd. Regional Director i.e.

Kirloskar Diesel Recan Ltd. Kirloskar Proprietary Ltd.

Essel Packaging Ltd. Essel Tea Exports -

Hira Lal & Sons (Export) P Ltd. UOI

2.2-5 Free name search facility

2.2-6 Filling Form RUN-LLP - Application for reservation of name of LLP

Sr. No. of form 1

i a i b

Guideline for filling the column

Para 2.2

Sr. No. of form 1

b k

Guideline for filling the column

Copy of resolution is required to be attached

2.2-7 Enclosures to form RUN-LLP

Following should be enclosed

LLP READY RECKONER

AUTHOR : V.S. DATEY

PUBLISHER : TAXMANN

DATE OF PUBLICATION : JUNE 2024

EDITION : 2024 EDITION

ISBN NO : 9789357787390

NO. OF PAGES : 360

BINDING TYPE : PAPERBACK

DESCRIPTION

This book is a subject-wise practical guide to the following laws:

• Limited Liability Partnership Act, 2008 [LLP Act] (as amended by the Limited Liability Partnership (Amendment) Act, 2021)

• Limited Liability Partnership Rules, 2009 [LLP Rules]

It offers a comprehensive analysis of all provisions of the LLP Act and the associated Rules, addressing practical issues faced by professionals.

The Present Publication is the June 2024 Edition and has been amended up to 15th June 2024. This book is authored by Mr V.S. Datey, with the following coverage:

• Overview of the LLP Act

• Incorporation of LLP

• Partner and Designated Partner

• LLP Agreement

• Accounts, Audit and Annual Returns of LLP

• Routine Management of LLP

• Administrative Control over LLP

• Compromise and Arrangement

• Winding-Up and Strike off Defunct LLP

• Investigation of Affairs of LLP

• Offences, Punishments and Penalties

• Other Provisions in respect of LLP

• Taxation of LLP

• Foreign Direct Investment in LLP

• Overseas Investment by LLP

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